Why should you prepare an agenda even for informal meetings?
A) It will give you a record of what has been discussed.
B) It will help focus the attention of all participants.
C) It enables you to inform participants of the day, time, and place.
D) It will cover reports of previous meetings.
E) It will convince participants of the need for a meeting.
B
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The inflow of assets resulting from the sale of products and services is called a(n)
a. asset b. liability c. revenue d. expense
The term "American" refers exclusively to someone who considers his or her home country the United States
Indicate whether the statement is true or false.
All of the following scenarios illustrate a reason why a firm would eliminate an item within a product line except
A. the firm must respond to evolving markets. B. the firm has decided to capture new markets. C. the firm decided to refocus marketing efforts elsewhere. D. the product being eliminated is unprofitable. E. the product undermined its own brand.
At December 31 of the current year, a company reported the following:Total sales for the current year: $980,000 includes $160,000 in cash salesAccounts receivable balance at Dec. 31, end of current year: $160,000Allowance for Doubtful Accounts balance at January 1, beginning of current year: $7,300 creditBad debts written off during the current year: $5,800.Prepare the necessary adjusting entries to record bad debts expense assuming this company's bad debts are estimated to equal 5% of accounts receivable.
What will be an ideal response?